06:21 PM
Sunday 01 January 2023
Books – Muhammad Sami:
President Abdel Fattah El-Sisi met today with Dr. Mostafa Madbouly, Prime Minister, Major General Abbas Kamel, Head of General Intelligence, Dr. Hala El-Said, Minister of Planning and Economic Development, and Ayman Suleiman, Executive Director of the Sovereign Fund of Egypt.
The official spokesperson for the Presidency of the Republic stated that the meeting dealt with following up on the activities of the “Egypt Sovereign Fund”.
The meeting witnessed the presentation of the overall activity of the “Egypt Sovereign Fund” during the last period, as the fund has contributed, since its establishment, to attracting 43% of the total foreign direct investment through 14 projects with a value of regarding 37 billion pounds, which focus on a number of important sectors of the Egyptian economy, especially hydrogen. Green water desalination and education.
The Fund’s efforts to exploit government buildings and assets that will be vacated in preparation for moving to the New Administrative Capital were also reviewed, in which the most important elements of investment attraction are entrepreneurship, administrative, hotel and educational activities.
The partnerships concluded by the “Egypt Sovereign Fund” with a number of Arab and international sovereign funds and their role in providing joint investment opportunities were also presented, in addition to presenting the work plan of the sub-fund for public offerings and the mechanism for implementing the state ownership document in order to provide diversified and attractive investment opportunities.
The spokesperson added that the president was also briefed on the features of the promotional program that the fund intends to launch in a number of Gulf and European countries regarding investment opportunities in Egypt to enhance the investment map, in addition to the fund’s investment priorities and targeted projects in various sectors during the coming period, which center around investment in projects. Nationalism to switch to green energy, support digital transformation and financial services, and focus on localizing the industry in a number of sectors such as pharmaceutical industries, vaccines and renewable energy supplies, in addition to providing investment opportunities in some other promising sectors such as agricultural reclamation and petrochemicals.
